In 1910, couturière Gabrielle Chanel, nicknamed “Coco” founded the French fashion luxury house which has its headquarter in Neuilly, France. Gérard Wertheimer and Alain Wertheimer, the grandsons of the early partner of the firm-Pierre Wertheimer owns Coco Chanel today.
Chanel’s Global Presence
There are around 310 boutiques of Chanel including :
- 94 Boutiques in Asia
- 70 Boutiques in Europe
- 10 Boutiques in the Middle East
- 128 Boutiques in North America
- 1 Boutique in Central America
- 2 Boutiques in South America
- 6 Boutiques in Oceania
Most of the boutiques are located in wealthy communities, inside the airport, or stores like Selfridges and Harrods.
Chanel Product Line
- Haute Couture
- Fashion
- High Jewelry
- Fine Jewelry
- Watches
- Eyewear
- Fragrance
- Makeup
- Skincare
Financial Insights
History
The Start and Rise of Chanel
It all started in the year 1909 when Coco Chanel was the mistress of Étienne Balsan, a businessman who even supported her financially for starting her hat-making shop. Arthur Capel, who was Balsan’s good friend is also one of the biggest influences behind this fashion house. More shops opened here, where she eventually started manufacturing clothes. That is how she started gaining recognition. It is believed that a dress made from an old jersey, is something that is her first step towards success in clothing. It is in the 1920s when the house of Chanel became a known brand for its sophisticated yet elegant outfit paired with stylish accessories. In 1921, it was because of her being the first designer to introduce fragrance- Chanel no. 5, she gained popularity. The famous Chanel suit made by her in 1925, was one of a kind, especially, when seen women wearing it. The suit consisted of a well-fitted skirt and collarless jacket. Though the black color signifies mourning, she introduced a little dress in 1926. She employed around 4000 employees and had 5 boutiques, moreover, designed dresses for Hollywood actors in 1935. Things became worse for Coco Chanel after the World War II economic depression. It was then she closed all her boutiques and moved to Switzerland.
Return to Fashion World
She returned to the fashion industry 10 years after taking a break. At that time Chanel was 71. Despite the critics, she won the world again. She continued with her classic looks along with more suits, bell-bottomed pants, etc. Though she started making handbags, one of her innovations in 1955, i.e the Classic Flap bag, took over the industry.
The Time after Coco
Though in 1971, Gabrielle passed away, but the brand lived forever. Though many designers were a part of Coco Chanel even before in 1983, he was appointed as the artistic director for the brand, and his visions aligned with Coco. He took his job very seriously and did not make a lot of changes. It is in his guidance, the Chanel “CC” logo and also the first-ever premier watch and jewelry collection.
Chanel Currently
After working at Chanel for over 30 years, in February 2019, Karl Lagerfeld passed away leaving Virginie Viard as the new creative director and Eric Pfrunder as the image director. Chanel will stay the high-end, glamorous, classy yet simple, brand it has always been.
